Can creditor who charges off debt (w/ 1099-C) legally continue to pursue collection

[joshuagraham]

I thought that once a creditor issues the 1099-C, that's it - the debt is no longer collectible. It seems to not be the case for this fellow ...

http://finance.yahoo.com/news/help-o...090013185.html

If indeed the creditor can continue to try to collect, then what happens if the debt gets paid off? Is that 1099-C rescinded?